Credit Acceptance
Car lot employee describes dealer down-payment loans and held paperwork

Credit Acceptance is bogus and so are the dealers the finance for-i have an inside track and I know what these people are going through, what is wrong with the American public, where are the free lawyers and where is the government don! T these people have to fall under some guidelines, or lending licenses, I work for a used car lot and they financed through Credit Acceptance in two of their lots, and these people will do anything to get them financed there, they would loan them money for the down payments and try to make them pay it back which is illegal to borrow any part of the down payment the owner pockets what is paid back and it is all gravy plus interest and a fee

And they are not a lender they have no licenses.

Plus they will defer their down payment and make it look like it is paid and illegally hold the customer! S paperwork until they get their money which is also illegal, they can not even get a tag or get any paperwork until they pay the whole deal is make it look good on paper so they can get them financed.

The deal is the managers and the owner make a lot of money from Credit Acceptance, they get money up front when they approve them and then when they get 100 sales which is called a pool they get what they call back in money - this is the big buck and their field rep is as bogus as a three dollar bill they have been caught twice doing side note and are still going them, so you can tell there anit much to them, and if you complain to Credit Acceptance they will snitch you off and the field rep will know before anyone.

Company: Credit Acceptance
Country: USA
State: Mississippi
City: Tupelo
Address: Detroit Michigan

  <     >